BUSINESS
Equity market starts FY22 on a high despite volatility
On Thursday, the BSE Sensex closed at 50,029.83, higher by 520.68 points or 1.05 per cent from its previous close of 49,509.15. The Nifty50 closed at 14,867.35, higher by 176.65 or 1.2 per cent from its previous close. Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said that global cues were positive, led by Biden's announcement of a multi-trillion-dollar infrastructure investment plan.
Wipro buying Australian firm for $117M
The transaction is expected to be completed during the quarter ending June 30, 2021, subject to regulatory approvals, said the citybased listed firm in a regulatory filing. The buyout in cash is for 100 per cent acquisition of Ampion's shares.
In Contention: Reliance Retail extends deadline for Future deal
In financial parlance, the RRVL extended the 'long stop date' for the acquisition till September 30, 2021. Besides, the development showed Reliance Retail's confidence in clinching the deal amid the legal tussle going on with Amazon.
Mahindra & Mahindra sells 40,403 vehicles in March
On YoY basis, the sales numbers are multiple times higher than the 6,679 units sold in the pandemic-struck March last year, when India was moving towards a lockdown and Covid-19 cases surged rapidly.The statement noted: "The growth in March 2021 over March 2020 has been unprecedented and is not comparable given the onset of pandemic during mid-March last year."
Base effect: Maruti Suzuki's March sales up over 99%
Accordingly, the company on Thursday reported a growth of 99.31 per cent in its overall sales during March 2021 on a yearonyear basis. The firm sold 167,014 units of vehicles last month, against 83,792 units sold in March 2020.
Mastercard invests $100 mn in Airtel Africa's mobile money biz
AMC BV is currently the holding company for several of Airtel Africa's mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa's fourteen operating countries.The transaction values Airtel Africa's mobile money business at 2.65 billion on a cash and debt free basis, Airtel Africa said in a statement.
March GST collection surges to over Rs 1.23 lakh Cr
Accordingly, the GST revenues during March 2021 are the highest since the introduction of the tax. "In line with the trend of recovery in the GST revenues over past five months, the revenues for the month of March 2021 are 27 per cent higher than the GST revenues in the same month last year," the Finance Ministry said in a statement.
RIL target price at Rs 2,500: JM Financial
JM Financial said in a report that Jio's subscriber momentum could be bottoming out, given its aggressive strategy to acquire significant quantities of the capacity spectrum to regain subscriber momentum via its new Jio Phone offers and the impending launch of the low-cost smartphones.
Equity indices in green, metal stocks surge
Around 10.40 a.m., Sensex was trading at 49,683.79, higher by 174.64 points or 0.35 per cent from its previous close of 49,509.15. It opened at 49,868.53 and has touched an intraday high of 49,942.84 and a low of 49,653.67 points. The Nifty50 on the National Stock Exchange was trading at 14,750.45, higher by 59.75 points or 0.41 per cent from its previous close.
Reliance infra & YES Bank announce sale transaction of Reliance Centre to YES Bank
Reliance infrastructure limited has reduced its exposure by 50 per cent in the last 90 days. Rinfra has closed three major transactions in the last 90 days namely the sale of road assets -- Delhi Agra Toll Road, Transmission Asset-Parbati Koldam Transmission Company limited and sale of Reliance Centre, Santacruz.
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